Photo by Sarah Trummer from Pexels
THE SCENARIO
In
recent posts, I've covered the concept of making the equivalent of 13 payments per year on a mortgage in order to pay it off faster. It's become apparent that when the interest rate on the loan is higher, the payoff-acceleration effect is more pronounced. This time, I'll take the concept one small step further in preparation for what may end up being a conclusion to this topic next week.
To make things simple, I'll use the same loan as ...
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